Question
Legal Studies Question on Property Law
Where a person paying off the mortgage debt is a stranger and has no interest of his own to protect, but he advances money under an agreement, express or implied, that he would be subrogated and the rights and remedies of the mortgagee whose mortgage is paid off by his money. This is called as:
A
Marshalling of securities
B
Conventional subrogation
C
Family arrangement
D
Legal subrogation
Answer
Family arrangement
Explanation
Solution
The correct option is (C):Family arrangement.